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When applying for a student visa, Canada requires international students to provide Proof of Funds (PoF) to demonstrate their financial ability to cover tuition, living expenses, and other costs. This requirement ensures that students can support themselves without financial hardship while studying abroad.
Proof of Funds is official documentation showing that a student (or their sponsor) has sufficient money to cover:
Tuition Fees – The cost of the academic program.
Living Expenses – Housing, food, transportation, and other daily costs.
Additional Costs – If you are travelling with a dependent, Canada requires you to provide proof of funds for your dependents, medical insurance, or travel expenses.
The commonly accepted proof of funds documents for Canada include:
Bank statements (showing funds held for a period of 4 months).
Fixed deposits or savings certificates.
Scholarship award letters.
Financial guarantee letters from sponsors.
Education loan approval letters.
Highlighted below are the student visa living expenses requirements for Canada, whether you are travelling as a single applicant or with a dependent.
The primary applicant requires:
CAD20635 per year (for up to 1 year) for courses in Canada, except Quebec
You require to provide proof of funds for your dependents for study visa application in Canada, except Quebec as follows:
Required funds for first dependent is CAD5055 per year
Required funds for second dependent is CAD5893 per year
Required funds for third dependent is CAD6763 per year
Required funds for fourth dependent is CAD5146 per year
Required funds for fifth dependent is CAD5559 per year
Required funds for sixth dependent is CAD5560 per year
Use the table below to see the proof of funds (living expenses + tuition fee balance + miscellaenous like flights, insurance etc) you will need to provide for each of your dependants:
| Family Size | Tuition Fees + Living Expenses |
|---|---|
| Single Applicant | CAD20,635 + Your Tuition Fee Balance |
| Family of Two | CAD25,690 + Your Tuition Fee Balance (Additional CAD5,055) |
| Family of Three | CAD31,583 + Your Tuition Fee Balance (Additional CAD5,893) |
| Family of Four | CAD38,346 + Your Tuition Fee Balance (Additional CAD6,763) |
| Family of Five | CAD43,492 + Your Tuition Fee Balance (Additional CAD5146) |
| Family of Six | CAD49,051 + Your Tuition Fee Balance (Additional CAD5,559) |
| Family of Seven | CAD54,611 + Your Tuition Fee Balance (Additional CAD5,560) |
Providing adequate proof of funds is a crucial part of the student visa application process because it shows that you are capable of financing your stay for the duration of your study. Insufficient or incorrect documentation can lead to visa delays or rejections.
Planning to study abroad? Canada requires international students to provide proof of sufficient funds to cover tuition, living expenses, and other costs before granting a student visa. Use our Canada Proof of Funds Calculator to estimate the minimum financial requirement for you to study in Canada.
Enter Your Details – Provide tuition fees, study duration, additional costs (if any), and any prepaid expenses.
View Your Required Proof of Funds – Canada proof of funds calculator will generate the minimum financial amount needed for your visa approval based on official government requirements.
Tuition Fees – The cost of your program in Canada (or the remaining balance after any payments).
Living Expenses – Estimated cost of living based on Canada visa guidelines.
Additional Costs (If any) – If you are travelling with dependants, Canada requires additional funds for them.
Prepaid Amounts – Any payments you've already made (e.g., tuition deposits, and accommodation fees) can reduce the required total proof of funds.
Simplify the calculation process with Canada Proof of Funds Calculator, which provides estimates based on official guidelines. Plan your study abroad journey with confidence!